Value Investing using Economic Value Added (EVA)

WHAT`S NEXT FOR CHINESE ENTERPRISES? EVA, OF COURSE

2009-11-11T23:10:55-05:00

In WHAT`S NEXT FOR CHINESE ENTERPRISES? Terry Qin, Vice President of Stern Stewart & Co. located in Beijing, writes that as many of China's largest enterprises gains influence in capital and traded goods markets, management (and the state, it is...

Invest in Stocks Now as ETF Investors Are Still Fleeing U.S. Stocks

2009-11-11T22:35:50-05:00

The greatest mistake that investors make is running with the herd. One of the great drivers of the success of value investors is the ability to run against the herd. Ordinary investors were selling in January, February and March of...

Another White House Failure: Obama's Tax Reform Commission

2009-11-10T21:23:39-05:00

TaxProf Blog: The Coming Failure of Obama's Tax Reform Commission. Tax Prof Blog reminds us of another highly anticipated high level White House "study" team that will produce nothing and waste some very important people's time - namely, Paul Volker....

50 Year High Increase in Productivity - From Lucy to Robots

2009-11-05T19:00:54-05:00

Productivity shot up today to a 5 decade high. Productivity is doing more with less to free up resources to serve in another capacity generating more growth and wealth. It is the foundation of a society's "pursuit of happiness". Look...

Focus On The Short-Term Hurts Companies - Bill George

2009-11-05T18:03:01-05:00

One of the important qualities of ValueAligned companies is that its management team and its processes are organized around maximizing "economic value", called "intrinsic value" by Warren Buffett, not some vague notion of maximizing "shareholder value", which almost always degenerates...

CARPE DIEM: The Wal-Mart Effect

2009-11-03T23:46:45-05:00

CARPE DIEM: The Wal-Mart Effect. On the Carpe Diem blog today, Mark Perry notes an article in Foreign Policythat highlights WalMart's largest international growth in the best growing international markets. Foreign Policy--Wal-Mart's debut in a country is a bellwether for...

Some Perspective 10% per Year « Systematic Relative Strength

2009-10-29T05:47:00-04:00

Some Perspective « Systematic Relative Strength. That’s right – still 10.09% annualized return over a stretch of nearly 92 years that saw horrible world wars, peace, booming economies, depressions, good politicians, bad politicians and everything in between. We will be...

This just in: Hedge funds pay banks millions for ‘edge’

2009-10-29T05:27:23-04:00

I am shocked, sir, to find out insiders pay for inside information! Just shocked! Here's a brilliant piece of journalism the likes of which we unfortunately expect nowadays. We need to wait for someone to get "busted" before anyone investigates...

TARP CZAR doesn’t understand why bankers get paid when their banks make money

2009-10-21T13:22:47-04:00

It's bizarre to watch the collectivist instinct of the people that have come to power in this government. Most of the people come from Academia - like our President, or from government. Few come from the real world - I...

Unlocking the power of Chinese consumers: An interview with Stephen Roach

2009-10-19T16:55:00-04:00

One of our investment themes for the last decade was the steadily growing influence of the Asian consumer. Back in the early 1990s when I managed a portfolio of stocks of companies based in Hong Kong mainly, the idea then...